The Fatal Conceit: The Errors of Socialism

Hayek gives the main arguments for the free-market case and presents his manifesto on the "errors of socialism." Hayek argues that socialism has, from its origins, been mistaken on factual, and even on logical, grounds and that its repeated failures in the many different practical applications of socialist ideas that this century has witnessed were the direct outcome of these errors. He labels as the "fatal conceit" the idea that "man is able to shape the world around him according to his wishes."

Capitalism and Freedom

Milton Friedman argues that the appropriate role of competitive capitalism occurs when the majority of our economic activity flows through private enterprise within a free-market environment. This is unequivocally the most effective device for achieving economic freedom, as well as the necessary condition in which political freedom can be attained. Friedman's arguments are positively bold, enlightening, and impacting. Among the specific topics he addresses are "The Control of Money", "Fiscal Policy", "Capitalism and Discrimination", and "Social Welfare Measures".

Free to Choose: A Personal Statement

Milton Friedman and his wife, Rose, teamed up to write this most convincing and readable guide, which illustrates the crucial link between Adam Smith's capitalism and the free society. They show how freedom has been eroded and prosperity undermined through the rapid growth of governmental agencies, laws, and regulations.

Economics in One Lesson

Called by H.L. Mencken, "one of the few economists in history who could really write," Henry Hazlitt achieved lasting fame for his brilliant but concise work. In it, he explains basic truths about economics and the economic fallacies responsible for unemployment, inflation, high taxes, and recession.

The Law

How is it that the law enforcer itself does not have to keep the law? How is it that the law permits the state to lawfully engage in actions which, if undertaken by individuals, would land them in jail? These are among the most intriguing issues in political and economic philosophy. More specifically, the problem of law that itself violates law is an insurmountable conundrum of all statist philosophies. The problem has never been discussed so profoundly and passionately as in this essay by Frederic Bastiat from 1850.

Human Action: A Treatise on Economics

Human Action is the most important book on political economy you will ever own. It was (and remains) the most comprehensive, systematic, forthright, and powerful defense of the economics of liberty ever written. This is the Scholar's Edition: accept no substitute. You will treasure this volume. The Scholar's Edition is the original, unaltered treatise (originally published in 1949) that shaped a generation of Austrians and made possible the intellectual movement that is leading the global charge for free markets.

Socialism: An Economic and Sociological Analysis

Published in 1922 during those dark and dreary years of socialism’s near-complete triumph, Socialism stunned the socialist world. Mises has given us a profoundly important treatise that assaults socialism in all its guises, a work that discusses every major aspect of socialism and leaves no stone unturned. A few of the numerous topics discussed include the success of socialist ideas; life under socialism: art and literature, science and journalism; economic calculation under socialism; the ideal of equality; and Marx’s theory of monopolies.

The Wealth of Nations

The foundation for all modern economic thought and political economy, The Wealth of Nations is the magnum opus of Scottish economist Adam Smith, who introduces the world to the very idea of economics and capitalism in the modern sense of the words.

The Libertarian Mind: A Manifesto for Freedom

Libertarianism: A Primer, by David Boaz, the longtime executive vice president of the Cato Institute, continues to be the best available guide to the history, ideas, and growth of this increasingly important political movement - and now it has been updated throughout and with a new title: The Libertarian Mind. Boaz has updated the book with new information on the threat of government surveillance; the policies that led up to and stemmed from the 2008 financial crisis; corruption in Washington; and the unsustainable welfare state.

For a New Liberty: The Libertarian Manifesto

In For a New Liberty: The Libertarian Manifesto, Rothbard proposes a once-and-for-all escape from the two major political parties, the ideologies they embrace, and their central plans for using state power against people. Libertarianism is Rothbard's radical alternative that says state power is unworkable and immoral, and ought to be curbed and finally overthrown.

Keynes Hayek: The Clash That Defined Modern Economics

As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore the balance to economies gone awry. John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Friedrich Hayek, who considered attempts to intervene both pointless and potentially dangerous.

Anandasubramanian says:"An unbiased evaluation of both the major economist"

Man, Economy, and State with Power and Market - Scholar's Edition

Murray N. Rothbard's great treatise, Man, Economy, and State, and its complementary text, Power and Market, are here combined into a single audiobook edition as they were written to be. It provides a sweeping presentation of Austrian economic theory, a reconstruction of many aspects of that theory, a rigorous criticism of alternative schools, and an inspiring look at a science of liberty that concerns nearly everything and should concern everyone.

Basic Economics, Fifth Edition: A Common Sense Guide to the Economy

In this fifth edition of Basic Economics, Thomas Sowell revises and updates his popular book on commonsense economics, bringing the world into clearer focus through a basic understanding of the fundamental economic principles and how they explain our lives. Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English.

Democracy in America

In 1831, Alexis de Tocqueville, a young French aristocrat and civil servant, made a nine-month journey through the eastern United States. The result was Democracy in America, a monumental study of the strengths and weaknesses of the nation’s evolving politics. His insightful work has become one of the most influential political texts ever written on America.

The Vision of the Anointed: Self-Congratulation as a Basis for Social Policy

In this devastating critique of the mindset behind the failed social policies of the past thirty years, Thomas Sowell sees what has happened not as a series of isolated mistakes, but as a logical consequence of a vision whose defects have led to disasters in education, crime, family disintegration, and more.

The Problem with Socialism

Remember when socialism was a dirty word? Now students at America's elite universities are parroting socialist talking points and "sure thing" Hillary Clinton is struggling to win the Democratic nomination against a 74-year-old avowed socialist who promises to make the nation more like Europe. What's happened? Do Americans need a reminder about the dangers of socialist ideology and practices?

Two Treatises of Government

Often considered the foundation of political liberalism, John Locke's Two Treatises of Government was first published anonymously in 1689, in the wake of England's Glorious Revolution. In The First Treatise of Government, Locke refutes the idea of divine monarchy, while The Second Treatise of Government articulates Locke's philosophy of government, which he based upon his theories of natural rights and the social contract.

Economic Facts and Fallacies

Economic Facts and Fallacies is designed for people who want to understand economic issues without getting bogged down in economic jargon, graphs, or political rhetoric. Writing in a lively manner that does not require any prior knowledge of economics, Thomas Sowell exposes some of the most popular fallacies about economic issues, including many that are widely disseminated in the media and by politicians.

The Revolution: A Manifesto

In The Revolution, Texas congressman and presidential candidate Ron Paul has exposed the core truths behind everything threatening America, from the real reasons behind the collapse of the dollar and the looming financial crisis, to terrorism and the loss of our precious civil liberties. In this book, Ron Paul provides answers to questions that few even dare to ask.

The Conservative Mind: From Burke to Eliot

Kirk defines "the conservative mind" by examining such brilliant men as Edmund Burke, James Fenimore Cooper, Alexis de Tocqueville, John Quincy Adams, Nathaniel Hawthorne, Benjamin Disraeli, Cardinal Newman, George Santayana, and finally, T.S. Eliot. Vigorously written, the book represents conservatism as an ideology born of sound intellectual traditions.

Anarchy, State, and Utopia: Second Edition

Translated into 100 languages, winner of the National Book Award, and named one of the 100 Most Influential Books since World War II by the Times Literary Supplement, Anarchy, State, and Utopia remains one of the most theoretically trenchant and philosophically rich defenses of economic liberalism to date as well as a foundational text in classical libertarian thought. With a new introduction by the philosopher Thomas Nagel, this revised edition will introduce Nozick and his work to a new generation of listeners.

The Federalist Papers

Originally published anonymously, The Federalist Papers first appeared in 1787 as a series of letters to New York newspapers exhorting voters to ratify the proposed Constitution of the United States. Still hotly debated and open to often controversial interpretations, the arguments first presented here by three of America's greatest patriots and political theorists were created during a critical moment in our nation's history.

Real Dissent: A Libertarian Sets Fire to the Index Card of Allowable Opinion

Nothing makes traditional left and right kiss and make up faster than when they're faced with an articulate libertarian. Avert your eyes from this dangerous extremist, citizen! Government is composed of wise public servants who innocently pursue the common good! In Real Dissent, Tom Woods demolishes some of the toughest critics of libertarianism in his trademark way.

Liberal Fascism: The Secret History of the American Left

"Fascists", "Brownshirts", "jackbooted stormtroopers" - such are the insults typically hurled at conservatives by their liberal opponents. Calling someone a fascist is the fastest way to shut them up, defining their views as beyond the political pale. But who are the real fascists in our midst?

Publisher's Summary

Originally published in 1944, The Road to Serfdom has profoundly influenced many of the world's great leaders, from Orwell and Churchill in the mid-'40s, to Reagan and Thatcher in the '80s. The book offers persuasive warnings against the dangers of central planning, along with what Orwell described as "an eloquent defense of laissez-faire capitalism".

Hayek shows that the idea that "under a dictatorial government you can be free inside," is nothing less than a grievous fallacy. Such dictatorial governments prevent individual freedoms, and they often use psychological measures to perform "an alteration of the character of the people". Gradually, the people yield their individuality to the point where they become part of the collectivist mass.

What the Critics Say

“This book was like a Mike Tyson (in his prime) right hook to socialism in Western Europe and in the United States. But its influence didn’t stop there. It has inspired political and economic leaders for decades since—most famously Ronald Reagan. Reagan often praised Hayek when he talked about people waking up to the dangers of big government.” (Glenn Beck)

“Shatters the myth that the totalitarianisms 'of the Left' and 'of the Right' stem from differing impulses.” (National Review, 100 Best Non-Fiction Books of the Century)

“This book has become a true classic: essential reading for everyone who is seriously interested in politics in the broadest and least partisan sense.” (Milton Friedman)

After listening to the entire book, I wonder why this work would not be mandatory reading in either high school or college. Hayek teaches us so much about why socialism fails. The work is timeless as it is as relevant now as it was when he wrote it in the 1940s. Hayek is very matter of fact and his thoughts are presented much differently than the typical political author today who tends to demonize and minimize their political opponents.

William Hughes does a great job narrating using emotion where appropriate, at times I feel like I might be listening to Hayek himself.

I'm 72 years old; The Road to Serfdom was released the year I was born. In his most important book Fredrich Hayek explains why the classical liberal political philosophy is the only form of government which does not eventually lead to serfdom for the people of a country. I first read The Road to Serfdom while a senior in high school and have read it several times since. Unfortunately this is the only book of Hayek's currently available in audiobook format. The print and Kindle versions of this and other Hayek books a really better than the audiobook versions. Amazon has copies of all of his books.

Hayek is of the Austrian School of political philosophy. His economic philosophy was influenced by a great number of earlier philosophers such as Adam Smith and Ludwig von Mises (a partial contemporary). Likewise he influenced others such as Milton Friedman who studied under Hayek at the University of Chicago. He was born in Austria, moved to England and became a British citizen, and taught for years in the US. He died in 1992 a few weeks before his 93rd birthday. Hayek was a recipient of the Presidential Metal of Freedom.

Hayek was a contemporary and philosophical opponent of British political philosopher John Maynard Keynes.

The narration of The Road to Serfdom is quite good, but not as good as this wonderful book deserves.

This book should be required reading for high school students. Many people believe that Hayek was a conservative; they are wrong! Indeed, his essay "Why I am Not a Conservative" which is available free on the Internet explains his position quite well. In much the same way many people believe that Keynes was a Progressive since his philosophy is used, often falsely, to sell more government spending. Keynes was most certainly not a Progressive although he did believe increased government spending was appropriate during periods of economic recession.

The Road to Serfdom is an amazing and wonderful book. EVERYONE should read it. Although not a native English speaker, Hayek wrote our language with amazing conciseness.

My son and I have decided that this is now our absolutely favorite book ever - replacing what had held as our previous favorite for almost 20 years. It is just that good. We enjoy about 40 books a year together- mostly nonfiction. We got this book after listening to several other books recently which referenced it and after hearing that it was a pivitol work in forming the thinking of both Reagan and Thatcher. The author can say in one sentence things that took me many minutes to share with my husband. Every sentence is a gem.

The book was and is revolutionary.
The narrator should be someone similar with the urgency in his voice.
Unfortunately, what i got a wheezing old, unemotional narrator with a voice so low and devoid of inflection, that he might have been a zombie.
One more example of Audible spoiling a good book by a bad narrator.
What's a good example of book and narrator complementing each other? Percy Jackson series. The narrator was BRILLIANT.
So was "All the Devils are here". The narrator understood what he was saying.
Audible: wake up and review these.

Hayek is not the most exciting writer, but he is clear, and his discussion does hold your attention. Especially this book which is directed not at academics, but to us regular folk.

The discussion about the dangers of socialism is somewhat dated: the particular dangers he is concerned about are with regards to post-war England. Still, there are insights here that apply universally.

My main complaint is the condescending tone of the reader. I do not think the book is written as a talking down lecture. But it comes across this way through the reader.

Hayek does a very good job of describing and predicting how America went from an individualistic, capitalist nation to socialism. He describes how the switch is made in the name of fairness and security.

Dr. Hayek offers very lucid and convincing arguments that socialism never worked, and won't work today or in the future. Buy a copy - audio or hardbound - and give it to your local politician, regardless of their specific political leanings.

Don’t let the Glenn Beck endorsement fool you; this might not be the book you were expecting. The Road to Serfdom is not a utopian view of capitalism as a solution to every problem, nor is it an anti-government manifesto. Rather, the book articulates a set of cautionary arguments against the temptations of collectivism, which might promise a more just or efficient world, but delegates to a central authority the power to decide exactly what “just” and “efficient” mean. In Hayek’s view, the devil is in the details, and rarely does any distant authority have the information to set an array of prices, wages, production quotas, job assignments, and incentives in a way that’s fair and functional. The more control the central authority assumes over the economy, the less responsive and transparent its micromanagement becomes, leaving many citizens frustrated and lacking motivation (as anyone who’s ever dealt with any kind of massive bureaucracy can imagine). As political unrest grows, the authority will find itself in a position where it either has to relinquish control, or clamp down on freedoms (think of the line from the classic Who song: "...and the party on the left is now the party on the right").

Generally, I found Hayek’s arguments carefully thought-out and sensible, responding to the views of his opponents without dismissing their concerns, intelligence, or good intentions (a feature of the book that seems to have been lost on people like Glenn Beck). As a moderate liberal, I would agree that fairly structured free markets work well enough for many things, allowing most people to meet their own needs and to pursue at least some of their wants. What works just fine shouldn’t be discarded in a quest to fix what doesn’t.

But, of course, the magic word is “most”. Hayek does acknowledge that free markets aren’t a panacea, and recognizes the need for social safety nets, public education, a minimum wage, anti-exploitation laws, consumer protection laws, environmental laws, and other features of modern liberal democracies. His concern isn’t so much that the government might set regulations or provide public services, but that it do so without destroying the benefits of a competitive system or giving some interest group special advantages over others. He also argues against state-sponsored business monopolies, an indictment that would presumably include much of today’s shameless lobbying and corporate welfare. That said, I thought he glossed over the possibilities of democratic socialism, wherein citizens form local cooperative arrangements that work with local government.

All in all, I think the Road to Serfdom remains, after so many decades, a book that continues to be relevant to discussions about economics in that it outlines a sober and sensible set of warnings against the dangers of utopian thinking. However, it also doesn't purport that capitalism is an innately fair or just system (an issue that a lot of modern day Tea Partiers and Randians seem in denial of), but one whose application must evolve with a society's needs. Trouble is, the devil is in the details either way you go, and Hayek leaves the USA of the early 21st century with a lot of questions that still need good answers. For example, what do we do with the many formerly middle class Americans whose jobs have been lost to globalism and advances in technology? Many of these citizens just aren't cut out for joining the intellectual class (doctor, engineer, professor, etc.), but forcing them to compete for wages with foreign workers or machines isn't a very palatable choice. At what point does Joe Average become a piece of expensive, obsolete equipment in the eyes of capitalism? While Hayek's book is still worth reading for its arguments, I fear we may be on our way out of the reality to which his analysis easily applied.